Tax

FATCA Tracker – November 01, 2014

The Internal Revenue Service (IRS) has added another 12,760 foreign financial institutions to the latest Foreign Account Tax Compliance Act (FATCA) list.

The FATCA list is the US government’s definitive database of overseas financial institutions complying with the reporting tax information laws that started in July 2014.

The current list, published on November 1, shows 116,104 financial institutions have signed up to FATCA across 218 international financial jurisdictions.

The previous list, published a month earlier included 104,344 financial institutions.

The financial jurisdictions with the most FATCA registrations are the Cayman Islands (21,633) and Britain (14,280). Third place is taken by Luxembourg with 5,162 registrations.

How the FATCA list works

Breaking the registrations down, 23 financial jurisdictions have more than 1,000 financial institutions registered.

Of the rest, 52 have 10 or less registrations, while 10 of them have a single registration.

Financial institutions on the database will file annual reports of accounts and investments held by clients who are US taxpayers to the IRS each year.

The reporting triggers are balances of $50,000 for US residents and $200,000 for American expats.

The next FATCA list is due on December 1, 2014.

The list can be downloaded or searched by country or financial institution on the IRS web site.

Financial institutions that do not register on the FATCA database could face financial penalties if they fail to report financial information about their US clients to the IRS.

FATCA Registrations - November 1, 2014
Financial JurisdictionNo of FATCA registrations
Afghanistan11
Albania20
Algeria6
andorra43
Angola20
Anguilla139
Antigua & Barbados41
Argentina477
Armenia35
Aruba18
Australia2507
Austria3025
Azerbaijan49
Bahamas736
Bahrain186
Bangladesh84
Barbados158
Belarus72
Belgium280
Belize243
Benin11
Bermuda1824
Bhutan2
Bolivia36
Bonaire, St Eustatius and Saba12
Bosnia and Herzegovina29
Botswana22
Brazil2841
British Indian Ocean Territory1
British Virgin Islands3478
Brunei Darussalam22
Bulgaria120
Burkina Faso8
Burundi5
Cambodia86
Cameroon13
Canada3043
Cape Verde13
Cayman Islands21633
Central African Republic4
Chad4
Chile365
China609
Colombia206
Comoros1
Congo5
Cook Islands94
Costa Rica127
Cote D'Ivoire31
Croatia76
Curacao220
Cyprus438
Czech Republic145
Democratic Republic Of The Congo14
Denmark235
Djibouti3
Dominica20
Dominican Republic95
Dutch St Martin18
Ecuador30
Egypt168
El Salvador45
Equatorial Guinea4
Estonia36
Ethiopia9
Falkland Islands (Malvinas)1
Fiji6
Finland522
France2858
French Polynesia3
French Southern Territories1
French St Martin2
Gabon4
Gambia13
Georgia30
Germany3178
Ghana55
Gibraltar1841
Greece137
Greenland3
Grenada34
Guadeloupe1
Guam3
Guatemala82
Guernsey3419
Guinea11
Guinea-Bissau1
Guyana10
Haiti15
Honduras52
Hong Kong2515
Hungary344
Iceland14
India393
Indonesia419
Iraq57
Ireland2462
Isle Of Man625
Israel463
Italy797
Jamaica54
Japan3560
Jersey2612
Jordan54
Kazakhstan96
Kenya67
Kiribati1
Kuwait98
Kyrgyzstan30
Laos16
Latvia55
Lebanon136
Lesotho6
Liberia37
Libya8
Liechtenstein412
Lithuania31
Luxembourg5162
Macao84
Macedonia21
Madagascar8
Malawi18
Malaysia493
Maldives7
Mali10
Malta551
Marshall Islands89
Martinique1
Mauritania14
Mauritius1100
Mexico522
Moldova23
Monaco124
Mongolia22
Montenegro9
Montserrat12
Morocco130
Mozambique17
Myanmar18
Namibia42
Nepal35
Netherlands2588
New Caledonia5
New Zealand705
Nicaragua19
Niger5
Nigeria84
Norway409
Oman29
Other775
Pakistan97
Panama698
Papua New Guinea4
Paraguay31
Peru176
Philippines200
Poland225
Portugal310
Puerto Rico4
Qatar55
Reunion1
Romania120
Russia961
Rwanda18
Samoa49
San Marino17
Sao Tome and Principe4
Saudi Arabia42
Senegal16
Serbia42
Seychelles96
Sierra Leone9
Singapore1265
Slovakia64
Slovenia53
Solomon Islands4
South Africa571
South Korea546
South Sudan8
Spain1331
Sri Lanka55
St Kitts and Nevis124
St Lucia74
St Pierre and Miquelon1
St Vincent and The Grenadines150
Sudan7
Suriname10
Swaziland10
Sweden512
Switzerland4586
Taiwan845
Tajikistan24
Tanzania24
Thailand1194
Timor-Leste2
Togo10
Tonga2
Trinidad and Tobago77
Tunisia12
Turkey245
Turkmenistan11
Turks and Caicos Islands40
Uganda27
Ukraine202
United Arab Emirates263
United Kingdom14280
United States719
Uruguay153
US Virgin Islands2
Uzbekistan4
Vanuatu9
Venezuela66
Viet Nam143
Wallis and Futuna1
West Bank and Gaza27
Yemen19
Zambia23
Zimbabwe8
Grand Total116104
Source: IRS

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